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Applicants for federal aid do so as ‘dependant’ or ‘independent’ students, which is determined by whether or not parental information is included on the FAFSA. Independent students enjoy higher borrowing limits. As of July 1, 2012 Direct Loan maximum borrowing limits range from $5,500 to $12,500 annually, depending on your individual situation. [link widoczny dla zalogowanych] You need to explore your options and shop around before you sign up to get a loan with bad credit. See if you can get a loan from a relative or friend. If your bank is unwilling to provide a loan, look for credit unions that may be willing to meet your requirements. Traditional Lenders
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